Val-D'Or Mining Exploration Update - Perestroika Prospect Eldorado Option

Rhea-AI Summary

Val-D'Or Mining (OTCQB: VDOMF) provided an update on the 2026 diamond drill program at the Perestroika Prospect, Courville Township, Québec, under option to Eldorado.

The program was budgeted at $1.37M USD for 20 holes (~8,000 m). As of March 30, Eldorado completed 18 holes totaling 10,287 metres, with two holes in progress. Eldorado may earn a 70% interest by incurring $10,500,000 in expenditures within five years; annual payments of $50,000 apply pre-exercise.

Positive

• Drilling completed of 10,287 metres to March 30, 2026
• Eldorado option to earn up to 70% interest
• Clear expenditure milestone of $10,500,000 to exercise option

Negative

• Program budget $1.37M USD vs planned 8,000 metres (possible cost variance)
• Earn-in obligation requires $10.5M spending within five years

Val-D'Or, Québec--(Newsfile Corp. - April 1, 2026) - Val-D'Or Mining Corporation (TSXV: VZZ) (OTCQB: VDOMF) ("the Company") is pleased to announce an update on the on-going diamond drilling program on the Perestroika Prospect. The property is in Courville Township, Québec, located approximately 40 kilometres northeast of Val-D'Or, Québec.

The Perestroika property is under option to Eldorado Gold (Québec) Inc. ("Eldorado") who may earn a 70% interest in each of the Murdoch Creek, Claw Lake, Cook Lake and Perestroika properties, on the terms detailed below.

2026 Diamond Drill Program Update:

The 2026 diamond drilling program was budgeted at $1.37M USD, to include 20 planned diamond drill holes totalling approximately 8,000 metres, utilizing two diamond drill rigs. As of March 30^th, Eldorado reported eighteen (18) drillholes have been completed for a total of 10,287 metres drilled. At the time of reporting, two (2) additional drillholes are in progress on the property.

Eldorado is the project operator. A summary of the diamond drill program will be provided once drilling has been completed. Core logging and sampling of the earlier drilled holes is on-going. The analytical results will be reported as they are received.

For details of the 2026 Diamond Drill Program Outline and Objectives, the reader is referred to the Val-D'Or Mining Corporation February 19, 2026 news release.

Eldorado Option Agreements:

The Company, Eldorado and Golden Valley Mines & Royalties Inc., as it then was ("Golden Valley") entered into an Assignment Agreement dated January 25, 2023, pursuant to which Golden Valley assigned to the Company all its rights and obligations under an Option Agreement dated October 8, 2021 ("the Option Agreement") between Golden Valley and Eldorado. As the assignee under the Option Agreement, the Company has granted to Eldorado an option ("the Option") to acquire an additional 40% interest in the properties ("the Properties") subject to the Option Agreement, one of which is the Perestroika Property in Québec. The Company currently holds a 70% interest in the Properties, and Eldorado currently holds a 30% interest in the Properties.

To maintain and to exercise the Option, Eldorado must incur minimum expenditures of $10,500,000 on or before the fifth anniversary of the date of the conditions precedent under the Option Agreement being satisfied, as well as comply with its obligations under the terms of the Option Agreement to keep the Properties in good standing. Prior to exercising the Option, Eldorado will make an annual payment to the Company of $50,000 per year. Upon the exercise of the Option by Eldorado, it and the Company will enter into a joint venture agreement on the terms set out in the Option Agreement.

Mr. Glenn J. Mullan, P.Geo., President and CEO of Val-d'Or Mining, is the Qualified Person (as that term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) who has reviewed this news release and is responsible for the technical information reported herein.

About Val-D'Or Mining Corporation

Val-D'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its diverse mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Québec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE's).

The Company has expertise in the identification and generation of new projects, and in early-stage exploration. The mineral commodities of interest are broad, and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with technical expertise and financial capacity to conduct more advanced exploration projects.

For additional information, please contact:

Glenn J. Mullan
2772 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@groupzedzed.com

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290871

FAQ

How much drilling has VDOMF reported at Perestroika as of March 30, 2026?

Val-D'Or reported 18 holes totaling 10,287 metres completed as of March 30, 2026. According to the company, two additional holes were in progress and core logging and sampling are ongoing.

What is Eldorado's option to acquire interest in VDOMF Perestroika property?

Eldorado may earn an additional 40% to reach 70% ownership of the properties by meeting option terms. According to the company, exercise requires minimum expenditures and ongoing property maintenance obligations.

What spending is required for Eldorado to exercise the Perestroika option by VDOMF?

Eldorado must incur at least $10,500,000 in expenditures by the fifth anniversary of conditions precedent. According to the company, this is the primary earn-in milestone to obtain the interest.

What was the 2026 drill program budget for VDOMF Perestroika and planned scope?

The 2026 program was budgeted at $1.37M USD for 20 planned holes totaling about 8,000 metres. According to the company, two drill rigs were planned for the campaign.

Will VDOMF report assay results from Perestroika drilling and when?

Yes; analytical results will be released as received. According to the company, core logging and sampling are ongoing and a program summary will follow once drilling is complete.

Does VDOMF receive payments from Eldorado before option exercise and how much?

Prior to exercising the option, Eldorado will make annual payments of $50,000 per year to Val-D'Or. According to the company, payments continue until option exercise and a joint venture follows exercise.